The issue is not whether fancybox can be bound to a submit
button or not. The actual issue is that your submit
button doesn't tell fancybox the target content to open and the type
of content it is.
So having this :
<input type="submit" id="submitme" name="submitme" value="SUBMIT ME" />
... will work if you hard code the missing elements href
and type
in your costom script like :
$("#submitme").fancybox({
type : "iframe",
href : "http://jsfiddle.net"
});
See JSFIDDLE
Optionally, you can hard code any html content too like :
$("#submitme").fancybox({
content : "<p>Any html as content</p>"
});
See JSFIDDLE